Tuesday, 17 April 2018

More Questions and Answers!

Some Korean investors asked 'me' - (one team member not the Admin) if the d & m team has 50% of SWTC's volume? And where is it used?

Answer by the Admin: The D & M Team members have bought more than 50 % of the SWTC offered for sale with their own hard earned USD by sending Yobit Codes. Also none of the D & M members are known to each other before the start for the project. Even now they are all working individually for the project from their own locations. The funds will always be used to develop the various software and hardware aspects of the project such as forking and modification of the CryptoNote Algorithm, developing the wallet with its own unique coding included to make it not mineable on other devices except our own Pocket Miners, legal process of registration of the Trade Mark of Pocket Miners through out the globe on the http://www.wipo.int/trademarks/en/ platform, development of the unique mining software based on Android using MacID secured payments infrastructure technology, development of the prototype of pocket miners and testing the mining software for secure and non-hackable mining process, setting up of seed nodes using secure servers for the development and safe and uninterrupted transactions and maintenance of our block chain, etc., are the activities involved. Just the initial legal process on WIPO will involve more than a 1000 USD. The basic application process involves approximately 660 Swiss Francs (700 USD). the funds we have collected is less than 12000 USD. Of which he D& M team has contributed more than 50 %. Obviously the project of this size requires much more than this. As mentioned earlier the additional funds required by the project will be brought in by me.

This answer will not change. If the same question arises to some investor after two days or after 10 days or after 1 month the answer is the same.

Question through Mail:

other question is, are you going to give 50 percent SWTC to D&M later?

Then isn't it too much to distribute 50 percent of the SWTC volume to the D&M team?

Answer by Admin:

We have not given or will ever give SWTC to any one with out payment received through Yobit Codes. People have only bought SWTC with their money. Only some bounties have been given to deserving people whether they are part of D & M team or not, who have worked hard for the project after announcing it on Bitcointalk. If any one wants SWTC now they have to buy it on the WAVES Platform in the SWTC/WAVES market now. All this will happen within the current total sold and issued 151 million SWTC (including the recently announced Bounties). After June 15 .. Read my previous answer given below in the earlier post..
(Answer: What we have now as SWTC is a token and not a coin. But since WAVES Client allows trading of tokens we are able to trade SWTC tokens now. Tokens are like advance booking tickets. For 1 ticket one coin. So people who have bought the SWTC on the waves platform have actually booked 1 coin with 1 SWTC token.
Once we develop our own wallet like the Bitcoin Wallet with its own blockchain based on the CryptoNote algorithm we will have a coin that can be stored in that wallet and can be mined with our Pocket Miner. Then we will tell everyone to send back the SWTC to us and we will issue the actual coin to the investors on a 1:1 basis.) So even after the new coin is swapped for the SWTC tokens the total number of coins will be 151 million coins including the total holdings of the D & M team as is the case even now.